Who this lender is best for: Best if you intend to finance your vehicle via a dealership rather than fully alone. To receive the most competitive rates, it is also best for those that hold an account with Bank of America.
Impact on financial wellness: Following the application, you can expect a hard credit check.
Time to receive funds: Funds will become available as soon as the same business day.
Fees: You can expect to pay title and state fees in some states
Additional requirements: Bank of America requires that the car you’re financing be no more than 10 years old, with no more than 125,000 miles and valued at no less than $6,000.
Special features: If you’re a Bank of America Preferred Rewards customer, you can qualify for a rate discount of up to 0.5 percent off.
Source: thesimpledollar.com